Trust Officer

Title: Trust Officer

Department: Trust Department

Reports to: SVP & Sr Trust Officer

Summary:

Trust Officers are responsible for servicing trust clients and ensuring compliance with all company policies and procedures, as well as all applicable state and federal trust law and rules and regulations.

Primary Responsibilities and Duties:
(The summary of duties and responsibilities listed above are representative of the job requirements but, are not meant to be all‐inclusive or prevent other duties from being assigned as necessary.)

• Responsible for the development and retention of accounts dealing with estate administration, estate planning, conservatorships and trust administration with the
• objectives of profit for the bank and quality of service to clients.
• Teamwork with assistant administrators, portfolio managers, relationship managers and operations is a critical function of the responsibilities.
• Administer various fiduciary accounts as provided under the governing instrument in accordance with bank policy, established practice approved procedures and legal
• constraints.
• Administer conservatorships, in accordance with the wishes of the court system, government agencies, and financial institution policies and procedures.
• Oversee initial fiduciary client onboarding and annual review of fiduciary accounts; gather relevant data and counsel and advise clients regarding estate planning.
• Monitor cash positions for fiduciary accounts and work with portfolio managers for the purchase, sale, and retention of assets.
• Review fiduciary documents to ensure they are accurate and complete with all applicable legal requirements.
• Appraise and secures assets within the financial institution as directed. Manage real estate, closely held corporations, minerals, oil/gas and other unique assets subject to valuation, in accordance with state and federal laws.
• Review completed fiduciary tax returns and sign when appropriate as well as instruct payment of all taxes due in a timely manner.
• Ensure beneficiaries are properly notified and that assets are distributed according to terms.
• Ensure income is collected, distributed and/or invested, and that the principal is properly managed, in accordance with agreements.
• Ensure expenses are paid. Communicate to beneficiaries
• Referring potential business to Relationship Managers from trust book.
• Work with key members of centers of influence, building a professional reputation and referring business from referrals in the professional community to Relationship Managers.
• Review transactions in book of fiduciary business for proper posting between principal and income and all anticipated receipts and disbursements have been timely posted.
• Regular review of all accounts to ensure proper categorization of cost basis, tax reporting, unique asset valuations and all other aspects of each trust.
• Resolve tax and other trust issues.
• Be familiar with the planning involved around trusts and IRAs as well as other asset titling and taxation issues.
• Ensure accounts assigned have proper account settings, all statements are set for delivery, an accountant is identified for tax reporting and fee integrity is maintained.
• Maintain thorough and clean client files in the department’s format on the network including writing memos to file, letters to clients and saving emails for documentation purposes.
• Responsible for compliance with all department and bank procedures.
• Perform necessary actions to be taken to close an account in an accurate and timely manner.
• Other duties as assigned.

Position Requirements:

• College degree in related field required, with CPA, JD or CTFA designation or equivalent strongly preferred.
• Excellent communication skills with clients, centers of influence, prospective clients and fellow team members is a must.
• Proficient computer skills, especially Microsoft Office applications and Internet browsers required. Strong Microsoft Excel skills required.
• Detail oriented and strong organizational skills.
• Skilled at multi‐tasking, managing priorities and problem‐solving skills.
• Ability to identify and escalate issues as appropriate and manage a book of accounts independently.
• Strong time management skills, ability to adapt and be flexible.
• Must follow and maintain knowledge of policies and procedures and recognize the necessity for strict client confidentiality.
• Communicate in a clear and service‐oriented manner. Use appropriate, professional language and grammar to effectively exchange ideas and information.
• Position may require the ability to work before or after normal business hours, including weekends and overnight travel, to meet required deadlines and attend meetings and/or training programs.
• Ability to proactively work with both clients and fellow team members.
• Ability to maintain a regular, predictable attendance.